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Now they are 189 Ore , 1420 Lumber , and 2049 Beef. That is in 3 months, so a 45% increase (annualized rate) on Iron Ore, a 360% spike on lumber, a 58% spike on Beef under Biden. Simply divide the latest numbers I just showed/Trump left is denominator, multiply increase in % by 4 to annualized Biden's first 3 months.
Then buy a wheel barrow so one can bring money to buy meet by 12/31/2021.
These are commodities, which fluctuate up and down far too much to look at a three month window and assume that trend will remain constant for a year to project an annualized rate.
Honest question, how much of the price hikes are due to the Trump tarriffs?
The tariffs started the price hikes.
Covid-19 finished them.
...and Covid isn't over yet. Places like India and Indonesia are where a lot of our raw materials come from, and Covid is sweeping through those places with a scythe in either hand, mowing people down like straw.
Who will be left to work the mines, fields, workshops and pits?
These are commodities, which fluctuate up and down far too much to look at a three month window and assume that trend will remain constant for a year to project an annualized rate.
3 months is Biden's resume. Its perfectly fair to extrapolate unless he proves hyper-inflation and his admin are not like Peanut Butter & Jelly, thought of in tandem.
After a massive drop over the past couple months lumber is now priced lower than it was at the beginning of the year, yet somehow I doubt you'll be making a new thread about that.
This is why you do not use volatile commodities as indexes for inflation to start screaming about Weimar inflation.
After a massive drop over the past couple months lumber is now priced lower than it was at the beginning of the year, yet somehow I doubt you'll be making a new thread about that.
This is why you do not use volatile commodities as indexes for inflation to start screaming about Weimar inflation.
You are correct. The lumber index has gone from 1670 in April down to 816 as of yesterday and it appears to be trending lower still.
High corn prices to feed cattle will cause beef prices to go through the roof and restaurant prices to increase additionally many states have increased restuarant wages.
Lots of us been saying this, when combine inflation in these commodity things in the USA with all the inflation in things like housing or college, the US is probably having the worst inflation in our history, much worse than the 1970's. When you don't use cooked up numbers like the CPI that designed to make inflation look less, and look at actual inflation in things that Americans need including housing, the United States now has hyperinflation by any definition.
Inflation is here. Oil prices are up due to Biden, I believe there is some manipulation occuring with wood.
Oil prices are up because global demand has surged.
Price per crude barrel hit a low point in April, 2020 because global demand fell off a cliff due due to Covid. Instead of reducing production, the Saudis accelerated production - a price war with Russia. Prices have been climbing ever since while Trump was POTUS and now Biden.
Of course Trump took credit for prices at the pump. Only way he was responsible was if he caused Covid and started the price war between Saudi and Russia.
No shortage of media has tried to blame the price at the pump on Biden’s decision to not renew the Keystone thing. Repeat something often enough and people are more likely to believe it. Reality is, Keystone has nothing to do with prices at the pump. you can fill your tank with tar sands.
US presidents don’t control markets nor the economy.
What exactly do you think Biden should do to reduce the pain at the pump?
Federal Reserve says the inflation is temporary. There a lot more to the FRB than the Fed Chair. The Board of Governors are appointed to 14 year terms. Right now, a majority are Republican which really does not matter when it comes to the economy.
Despite inflation, demand for nearly everything continues to increase.
Lots of us been saying this, when combine inflation in these commodity things in the USA with all the inflation in things like housing or college, the US is probably having the worst inflation in our history, much worse than the 1970's. When you don't use cooked up numbers like the CPI that designed to make inflation look less, and look at actual inflation in things that Americans need including housing, the United States now has hyperinflation by any definition.
Worse than the 70’s? Surely you jest.
It is the Federal Reserve’s position current inflation is all about supply shocks tied to the global pandemic and unrelenting consumer demand for stuff.
This is nothing like the upward spiral that haunted 3 presidents, Nixon, Ford and Carter. Took FRB to increase interest rates to 20% to reduce inflation. And it worked over time. By 1983, inflation had declined to 3%.
Most economists agree in hind sight, the Volcker Shock was the right move at the times, despite the toll it took.
As an aside, the mortgage on my first property carried a 16.5% rate. The monthly principal and interest on that property is lower today than it was 40 years ago, despite decades of modest appreciation.
Lots of us been saying this, when combine inflation in these commodity things in the USA with all the inflation in things like housing or college, the US is probably having the worst inflation in our history, much worse than the 1970's.
You are an example of someone who doesn't understand inflation. Almost 40% of Americans live in paid off homes, many others have mortgages refinanced at very low interest rates compared to previous generations. College? Do you pay for college? College costs have gone up but bottom line relatively few people have college costs in their monthly budgets, go look at consumer spending stats if you doubt. Inflation is about the average across all Americans, not for someone you paint as an example affected most.
You're almost as bad as the occasional poster whining about the cost of bacon, then forgetting when it goes back down.
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